On: December 17, 2018 By: Chris Lidberg
If you never have discrepancies in your letters of credit, you can be sure you'll get paid. But if your LCs include discrepancies, you need to wait for the buyer to approve payment. Since this process is the most expensive and most structured payment method, consider an alternative: the collection.
On: December 3, 2018 By: Joseph A. Robinson
Many small businesses are so busy running their day-to-day operations that they don't consider their export potential. Oftentimes they think exporting is too burdensome and the rewards are too modest. But there are many very good reasons why they should start. Here are 14 of those reasons.
On: November 28, 2018 By: David Noah
Chinese New Year has a significant impact on exporters because Chinese factories, ports and many other businesses in China actually close down during the holiday. Here's how you can prepare for Chinese New Year on February 5, 2019.
On: November 26, 2018 By: Catherine J. Petersen
In order to correctly import or export your products, you need to properly classify your goods.There are some great tools for you to use to help determine the correct classification. These will help you make decisions based on the General Rules of Interpretation of the Schedule B codes.
On: November 12, 2018 By: Roberto Bergami
One of the critical issues for successful importers and exporters is the timely movement of cargo across international boundaries. This is an important aspect for any business, as time is money. Slow delivery increases the price of the goods and means additional costs when running the business.
On: November 5, 2018 By: Roy Becker
There are many reasons why you may want to use a letter of credit to get paid for your export shipments. But Letters of credit can be complicated. It's important to know what you're doing to avoid delays and other frustrations. Here are 8 tips from an expert on getting paid with a letter of credit.
On: October 15, 2018 By: Chris Lidberg
Of the four primary export payment options—cash in advance, open account, letters of credit, and collections—you can only forecast when you might receive payment with two of them: cash in advance and letters of credit. Payment under collections and open account is at the discretion of the buyer.
On: October 1, 2018 By: Roy Becker
A documentary collection works well for many exports and provides a measure of security for both importers and exporters. It is simple, fast and less costly than a letter of credit. This article explains the typically seven-step transaction flow with a documentary collection and the potential risks.
On: September 17, 2018 By: Joseph A. Robinson
Exporters often think of chambers of commerce only in terms of signing certificates of origin. But there are other services and programs that chambers of commerce provide. Business savvy managers utilize chambers to help increase the efficiency and effectiveness of their international business.
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